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CBO: Senate Tax Plan Would Grow Debt, Benefit Wealthy More Than Poor
by Countable
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  • Shawn
    11/30/2017
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    First, this plan provides permanent tax breaks for corporations but only temporary reductions for average Americans. For many Americans that itemize, they will lose those deductions. Second, corporations will not use those tax savings to create jobs as easily as the President indicates. Watch Don Stockman’s discussion about how the stock market has priced increased dividends, higher earnings per share and stock buy backs into the record stock market indices. (Stockman was Reagan’s Budget Director). If we cut corporate taxes tie those reductions to investment in infrastructure, new jobs or higher wages. Stockman suggests reducing payroll taxes. That allows everyone from minimum wage workers to execs to take home more money in their checks. Finally, repealing ACA is done. Do not further complicate and punish the uninsured by including the mandate in this tax plan. Do something meaningful for the average American, not just your wealthy donors.

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